Jefferies lifts target for Amgen stock to USD 428.00
π Jefferies raised its Amgen stock price target from USD 410.00 to USD 428.00 on October 26, 2026.
π° Amgen reported second-quarter 2026 revenue of USD 10.05 billion, a 9.50% year-over-year increase.
π Diluted earnings per share reached USD 4.37, exceeding the analyst consensus estimate of USD 5.62 in adjusted comparison.
π Revenue of USD 10.05 billion surpassed the market consensus expectation of USD 9.43 billion.
π Amgen stock traded at USD 447.00 on October 27, 2026, trading above Jefferies' new target price.
π’ The company holds a market capitalization of USD 241.7 billion with a P/E ratio of 27.76.
π Investors await the next earnings release scheduled for November 3, 2026.
Bullish Signals
- Jefferies raised its price target for Amgen to USD 428.00 from USD 410.00 following strong Q2 results.
- Second-quarter revenue reached USD 10.05 billion, up 9.50% year-over-year, exceeding consensus estimates of USD 9.43 billion.
- Diluted earnings per share of USD 4.37 were reported for the period, beating adjusted analyst expectations.
- Consolidated net income for the quarter totaled USD 2.38 billion.
Full Analysis
Jefferies has raised its price target for Amgen to USD 428.00, increasing it from a previous level of USD 410.00 on October 26, 2026. This analyst upgrade follows the company's strong second-quarter performance, where Amgen reported revenue of USD 10.05 billion, representing a 9.50% increase compared to the same period in the prior year.
The financial results for the quarter were robust, with consolidated net income reaching USD 2.38 billion and diluted earnings per share hitting USD 4.37. Market data indicates that these actual figures significantly exceeded consensus estimates, with revenue surpassing expectations of USD 9.43 billion and adjusted earnings per share beating the USD 5.62 estimate.
Amgen's stock price on October 27, 2026, was trading at USD 447.00 on Nasdaq, which is notably higher than Jefferies' revised target of USD 428.00. The company maintains a market capitalization of USD 241.7 billion and a price-to-earnings ratio of 27.76, trading near its 52-week high of USD 450.98.